So what’s the deal that most twenty-somethings are taking when they say “yes” to an offer of admission? They’re taking five years of, let’s say, $20,000, studying something they’re truly passionate about, for a shot at a tenure-track position five to seven years down the line, and a shot at a tenured position in the long run with unbeatable benefits and job security. The downside is that it’s extremely unlikely that they’ll actually wind up with that job in the end. In other words, they’re accepting five years of pretty decent, if low-paying, security with a whole lot of questions once those five years are up.